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I am serious about buying a Regulator in Florida. Boat is $90k and the broker is telling my I have to pay $5400 in sales tax. Is this correct? Boat is used of course. I would think they have a cap on the sales tax for a high dollar item like this. Anyone have any insight?

Well, I would think the broker should be able to help you out. But used private party to private party, you can itemize the boat, engines, and trailer - and avoid some of that tax. FL collects used sales tax on the parts you register WHEN you transfer the title - not the engines, electronics, or accessories which presumably have already been taxed once when bought new.

For a $90k boat, I think you could itemize out at least $30k for engines, electronics, etc.

I used to have a link to this on the FL tax collector's website but can't find it now - but as far as I recall it was very straightforwardly worded and legit. I itemized out my boat purchase this way and the tax guys didn't even blink when I showed them the bill of sale.

Now, if you are in a different state - it is a whole different question, because you'll want to figure out what goes to FL and what goes to SC. Honestly I think most of the tax may end up in the state where YOU live. You definitely need to call up your home state's tax collection dept and get confirmation from them - you could otherwise end up getting taxed TWICE.

If the seller of a vessel entered the entire selling price of a boat, trailer and motor as the selling price on the transfer portion of the vessel title being transferred, must the new owner pay sales tax on the entire amount?

Yes, sales tax must be paid on the amount entered on the title, unless an itemized bill of sale listing the price of each component of the rig is submitted with the application. In such a case, the owner would only be required to pay sales tax on the boat and trailer.

Last year I purchased my Jupiter in Florida and had it delivered to NC. I signed a state form from Florida saying that the boat was going to be used and stored in the Carolinas and I did not have to pay the tax. The transaction was handled by a Broker and the forms sent to the state by me. I even had to send them proof of the storage bill in NC. I am sure however, if I was to move to FL or the boat was to be sold back to Florida, which it was, then sales tax would be due when it got back to FL. Hope this helps.

jtms - 2/9/2007 2:48 PM I am serious about buying a Regulator in Florida. Boat is $90k and the broker is telling my I have to pay $5400 in sales tax. Is this correct? Boat is used of course. I would think they have a cap on the sales tax for a high dollar item like this. Anyone have any insight?

Do you live in Florida? If so, then you are getting good information.

If you don't live in Florida, all you have to do is sign a sales tax waiver form saying you will be taking the boat out of state and registering it there. Then, you pay sales tax in the state where you will be registering it, if that state taxes used boat purchases. Not all states tax used boat purchases....if you live in GA, then no sales tax is collected. Just the registration fees, and the yearly ad valorem tax.

I hope the broker was just misinformed...and not trying to pad his commission.

I bought a boat in FL and live in NJ. NJ sales tax is 7% and FL is 6%. Either way I had to pay the tax...I chose to pay the FL tax and will have to show the bill of sale when I register in NJ. NJ will accept the 6% tax already paid...so I saved 1%.

I had 90 days to remove my boat from florida waters and then could not return for 6 months, otherwise I would have had to pay the florida tax. I live in Louisiana where a used boat is considered a casual sale if your not buying it from a dealer. casual sales tax is 0%, so I paid no tax for my convertable

OK, here's a good one for the gurus out there. I am in RI. No sales tax on boats or motors if purchased as a package. Sales tax on trailer. This is new or used. If I move to FL, will I have to pay any sales tax when I register since I cannot produce any evidence of a sales tax paid in previous state?
Jay

OK, here's a good one for the gurus out there. I am in RI. No sales tax on boats or motors if purchased as a package. Sales tax on trailer. This is new or used. If I move to FL, will I have to pay any sales tax when I register since I cannot produce any evidence of a sales tax paid in previous state?
Jay

If you are moving and take your registered boat with you, there is no sale invoved. You should just be able to register it in Florida.

If you buy and pay the tax on a boat in a 6 percent state and take it to a state where the tax rate is higher, the higher state will usually ask for the difference in what you paid and what their rate is. There is commonly a 90 day rule in that if you've owned it for more than 90 days in another state, you can bring it into your state and not owe the tax on it. Most states are very diligent in collecting the taxes due and the penalties for evasion are stiff.

Dsalty is right on. Each county has the option of adding to the base 6% rate. Here in Broward county (Ft. Laud, etc.) there's no addition so all I charge my fly customers is the base 6% rate... Since Fla doesn't have an income tax, sales and property taxes are important. Thank heavens I don't live up north.